|
Consolidated Balance Sheets (USD $)
|
Sep. 30, 2012
|
Dec. 31, 2011
|
| Current assets: |
|
|
| Cash and cash equivalents |
$ 48,167,633 |
$ 47,007,309 |
| Accounts receivable, net of allowance for doubtful accounts of $2,292,271 and $3,017,742 at September 30, 2012 and December 31, 2011, respectively |
100,442,704 |
89,191,456 |
| Income taxes receivable |
0 |
636,362 |
| Prepaid expenses |
2,465,107 |
4,634,612 |
| Other current assets |
139,419 |
164,286 |
| Total current assets |
151,214,863 |
141,634,025 |
| Property and equipment, net |
12,645,398 |
10,834,526 |
| Intangible assets: |
|
|
| Goodwill |
44,388,202 |
41,476,212 |
| Intangible assets, net of accumulated amortization of $8,051,186 and $6,563,870 at September 30, 2012 and December 31, 2011, respectively |
5,982,737 |
6,281,452 |
| Other assets |
172,732 |
271,871 |
| Total assets |
214,403,932 |
200,498,086 |
| Current liabilities: |
|
|
| Accounts payable |
60,331,993 |
59,949,927 |
| Current maturities of capital lease obligations |
43,398 |
175,166 |
| Due to seller-short term |
4,349,327 |
5,278,889 |
| Accrued expenses |
6,926,880 |
5,195,545 |
| Income tax payable |
750,277 |
0 |
| Deferred income taxes |
50,244 |
923,208 |
| Total current liabilities |
72,452,119 |
71,522,735 |
| Due to seller-long term |
5,808,848 |
7,573,392 |
| Deferred income taxes |
2,562,802 |
2,056,275 |
| Capital lease obligations, net of current maturities |
0 |
24,086 |
| Total liabilities |
80,823,769 |
81,176,488 |
| Stockholders' equity: |
|
|
| Common stock, par value $0.0001 per share, 100,000,000 shares authorized, 22,389,487 and 22,155,857 shares were issued and outstanding at September 30, 2012 and December 31, 2011, respectively |
2,239 |
2,216 |
| Additional paid-in capital |
97,174,454 |
93,447,472 |
| Retained earnings |
36,403,470 |
25,871,910 |
| Total stockholders' equity |
133,580,163 |
119,321,598 |
| Total liabilities and stockholders' equity |
$ 214,403,932 |
$ 200,498,086 |